Jarred's Debt Consolidation

The Overview

Jarred is single and is in full-time employment. He has few assets but does own a car worth $11,000. He has numerous small debts and a few credit cards.

Balance

Weekly Repayment

Credit Card 1

$3,500

$90

Credit Card 2

$3,100

$80

Cash Loan

$600

$120

Telephone Bill

$1,000

$100

Total

$8,200

$390

The Problem

Jarred is unable to meet his weekly repayments and pay for his daily living expenses.

Our Positive Solution

Jarred approached Debt Rescue to find a solution. Debt Rescue suggested a personal loan to consolidate his debts as his best option.

Debt Rescue referred him to Positive Solutions Finance.

Positive Solutions Finance, who is also part of the Lanyana Financial Group, were able to work with Jarred to find him a suitable lender to consolidate his debts into a personal loan.

The Outcome

Positive Solutions Finance were able to find a lender who was willing to lend Jarred $7,000. As this amount was insufficient to pay out all of his debts, Debt Rescue was able to negotiate with his creditors to reduce the amount owed on his debts to fit within the loan.

Now Jarred was able to refinance all of his debts into one loan and substantially reduce his weekly repayments to allow him to meet his daily living expenses.

Jarred is happy knowing his repayments have been reduced from $390 per week to $70 per week.